Market Insights | June 2020

 

Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information. 

 

Subscribe to Market Insights here!

 

June 2020 Market Insights

 

If I could sum up the month of June in two words they would be Multiple Offers! While this isn’t the case in every listing, we are seeing a much higher percentage than recent history. This could be attributed to the low inventory and very high buyer demand.
Stanwood and Camano Island are so close in proximity, yet their market reports tell two different stories. Both Stanwood and Camano Island have very limited inventories, with less than 2 months each, Camano Island has 39% less in inventory than last year, yet the average sales price rose substantially by 14%. Average sales prices are going up for two reasons, we have sold more high-end homes this year than last, as well the demand for homes has increased. Stanwood has 26% less in inventory than last year, with the average sale price rising 12%.
As home buyers and sellers have adjusted to the restrictions put in place by the COVID-19 pandemic, I want to assure you that our team is here to help you. Just last month, we sold 53 homes! Now with Island County in phase 3, we’re excited to offer Open Houses in Camano Island. Snohomish County is currently in phase 2, and our Stanwood office is open by appointment only. We’ll continue to implement best practices to keep you and our team members safe by wearing masks, practicing social distancing, and taking added precautions when showing or visiting homes.
Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, send me a note! We look forward to continuing to serve you!

View Camano Island Report

View Stanwood Report

 


Posted on July 16, 2020 at 9:08 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | May 2020

 

Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information. 

 

Subscribe to Market Insights here!

 

 


May 2020 Market Insights

 

Despite the economic downturn stemming from COVID-19, key indicators suggest that the Stanwood market is turning in a positive direction. The volume of new listings rose 10 percent, pending sales jumped 71 percent, and the average sale prices increased 10 percent. Camano Island saw a 16 percent increase in the average sale price, but the year-over-year number of new listings fell 47 percent and pending sales dropped 25 percent. 

 

Both Stanwood and Camano Island have very limited inventories – less than 2 months each – and I expect there will be an increased demand in our area as people move away from the cities in the future. The accessibility, sense of community, and outdoor recreation will make Stanwood Camano a top choice for home buyers moving forward!

 

As home buyers and sellers adjust to the restrictions put in place by the COVID-19 pandemic, I want to assure you that our team is here to help you. Just last month, we sold 28 homes! Now with both Island and Snohomish counties in phase 2, we’re excited to welcome you back to our offices! We’ll continue to implement best practices to keep you and our team members safe by wearing masks, practicing social distancing, and taking added precautions when showing or visiting homes.

 

Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, send me a note! We look forward to continuing to serve you!

View Camano Island Report

View Stanwood Report

 


Posted on June 18, 2020 at 3:19 pm
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | April 2020

 

Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information. 

 

Subscribe to Market Insights here!

 

 


April 2020 Market Insights

 

As we continue to adapt to our new normal, I wanted to take this opportunity to share some of the trends we’re seeing in Stanwood and Camano Island real estate.

 

Let’s start with April’s stats! The local market took a hit but wasn’t knocked out – the number of new listings, pending sales, and closed sales decreased but prices increased an average of 17 percent. We also had higher rates of engagement on our virtual home tours, which shows that buyers, sellers, and Realtors® are adopting new tools to keep moving forward through COVID-19.

 

Looking ahead, some of the lasting effects of COVID-19 might include:

 

  • More businesses that choose to operate remotely, which could mean more people living in suburban areas like Stanwood and Camano Island rather than large cities
  • Streamlined real estate processes with the help of digital tools for contracts, notaries, and even home tours
  • A shift in what buyers are looking for, like more spacious homes or more outdoor living spaces

 

As always, we are here to help you navigate these changes and trends! Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, contact us! We look forward to continuing to serve you!

View Camano Island Report

View Stanwood Report

 


Posted on May 19, 2020 at 3:06 pm
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | March 2020

Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information. 

 

Subscribe to Market Insights here!

 


March 2020 Market Insights

 

The COVID-19 pandemic continues to shape our lives and our economy, but we will continue to work tirelessly to help our clients move their lives forward during these uncertain times. Our homes are more important than ever before – providing tangible value while the stock market fluctuates, and acting now as our shelters, schools, offices, gyms, and more as we all take steps to curb the spread of COVID-19.

 

A quick look at the numbers shows that market conditions still seemed to favor sellers in March, which is common this time of year with limited supply and high demand. Pending sales decreased as expected but average sales prices are up over last year in both Stanwood and Camano Island. We’re also adapting our business practices to keep our clients and our team members safe at this time. According to the Governor’s order, real estate brokers are able to take new listings and send contracts electronically, and arrange for appraisals and inspections to be conducted as needed. Realtors® are also allowed to show listings with strictly limited group sizes, and we’ll continue to implement best practices to keep all parties safe.

 

Take a look at the full report for Stanwood and Camano Island and, if you have any questions about the report or about buying or selling your home, please contact us! We look forward to continuing to serve you!

View Market Insights

 


Posted on April 14, 2020 at 11:50 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | February 2020

 

Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information. 

 

Subscribe to Market Insights here!

 

 


February 2020 Market Insights

 

The spring is one of the busiest times in real estate; just last week we listed 7 new properties and had another 14 move to pending. In February, Stanwood and Camano Island were sellers’ markets with strong active-to-pending ratios, low average time on the market, and a higher average sale price than last year.

 

Typically, we look at past numbers to predict trends for upcoming months. However, we understand that this is a time of relative uncertainty as the situation with the COVID-19 pandemic continues to evolve. One resource we rely on to provide up-to-date market information and insight is Windermere’s Chief Economist, Matthew Gardener. Watch a short video below in which Matthew leverages his decades of expertise to predict how the housing market may briefly contract and soon recover from this global pandemic with lower interest rates and a limited supply of listings.

 

We will continue to monitor the situation and work tirelessly for our clients. In addition to frequent handwashing, thorough cleaning, and good hygienic habits in our offices, we will implement best practices to keep our clients healthy and safe as we continue to work with Buyers and Sellers.

 

Take a look at the full report for Stanwood and Camano Island and, if you have any questions, send me a note! We look forward to continuing to serve you!

 

Download Market Insights

 


Posted on March 14, 2020 at 8:38 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Insights | January 2020

 

Our local real estate market is unique and we know that we can’t depend on Seattle real estate news to have a thorough understanding of what’s going on and what to expect here. That’s why Marla Heagle, owner and REALTOR®, prepares a hyperlocal report every month. This in-depth look at the Stanwood and Camano Island market includes key statistics, like listings sold by price point or the number of days on the market, and empowers our agents and our clients with the most up-to-date and relevant information. 

 

Subscribe to Market Insights here!

 

 


January 2020 Market Insights

 

It may still be winter, but spring selling season is underway! Attached, you’ll find the complete market report for Stanwood and Camano Island for January 2020, but I’d like to call your attention to a few things.

 

In both Stanwood and Camano Island, there is a higher volume of pending sales than active listings. Even with new listings popping up (our offices just listed nine new homes last week), the market inventory is rapidly decreasing.

 

We’re also seeing homes move to pending in record time, reducing the number of homes on the market to historic lows. Last week, our offices published 16 pending listings. We are also seeing multiple offers on some of these homes, which is rare for February.

 

Download Market Insights

 


Posted on January 30, 2020 at 8:34 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling, We Are Stanwood Camano |

Market Stats February 2019

Every month, Windermere Stanwood-Camano publishes a snapshot of the local real estate market. Our Brokers use this data to help determine listing prices, realistic offers, and tailored advice for their clients. We also like to make this information public, to help you with your real estate journey. Market Stats are provided courtesy of Marla Heagle. 


February 2019 Stanwood – Camano Area Market Stats

If you have any questions about our local statistics, please contact our office and we will put you in touch with an experienced professional broker from one our offices.

Terry’s Corner office 360-387-4663

Stanwood office 360-629-8233

 

View Full Stats – Camano Island       View Full Stats – Stanwood


To read in-depth statistics from January 2019, click on the links below.

View Full Stats – Camano Island  View Full Stats – Stanwood


Matthew Gardner’s Real Estate Forecast for 2019

Year End Market Stats 2018 and MSI

 


Posted on April 3, 2019 at 2:43 pm
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling |

Market Stats January 2019

Every month, Windermere Stanwood-Camano publishes a snapshot of the local real estate market. Our Brokers use this data to help determine listing prices, realistic offers, and tailored advice for their clients. We also like to make this information public, to help you with your real estate journey. Here are Marla Heagle’s key takeaways from January 2019.


Continued Evidence of a Balanced Real Estate

Market in Our Local Area

 

As we dive into 2019 in Stanwood and Camano Island, we are continuing to see signs of a balanced real estate market. These three points were taken from Matthew Gardner’s economic forecast last month, and are ringing true in our local market:

1.  Single Family home prices will rise in 2019, but the rate of growth is trending lower.

Area 2019 Price Forecast
Camano Island +5.7%
Stanwood +7.5%
Snohomish County +5.6%

In January 2019 compared to January 2018, we have seen year over year price growth of .5% on Camano island and 2% in Stanwood. As the year continues, that number is likely to increase.

2. Regional economic growth will still drive housing demand.

3.  The big story for 2019 will be the ongoing move towards a balanced market.

We have seen this move towards a balanced market in our January numbers for Stanwood and Camano Island.  As we reported last month, Camano Island had 2.6 months supply of inventory (MSI) at year end and at the end of January it rose to 3.4 months.  Stanwood had 3.7 MSI at year end and is now 5.1. A true balanced market.

To read in-depth statistics from January 2019, click on the links below.

View Full Stats – Camano Island       View Full Stats – Stanwood


To read in-depth statistics from December 2018, click on the links below.

View Full Stats – Camano Island  View Full Stats – Stanwood


Matthew Gardner’s Real Estate Forecast for 2019

Year End Market Stats 2018 and MSI

 


Posted on February 21, 2019 at 12:29 pm
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling |

Year End Market Stats 2018

Every month, Windermere Stanwood-Camano publishes a snapshot of the local real estate market. Our Brokers use this data to help determine listing prices, realistic offers, and tailored advice for their clients. We also like to make this information public, to help you with your real estate journey. Here are Marla Heagle’s key takeaways from December 2018.


Are Camano Island and Stanwood

Heading for a Balanced Housing Market?

 

How do we determine if we are in a seller’s, buyer’s, or balanced housing market? It comes down to something called Months Supply of Inventory (MSI). MSI quantifies how many months it would take the market in its current condition to absorb all the active listings. So, we’re easily able to see if the market is favoring buyers or sellers. Generally, a balanced market will have somewhere between four and six months of supply. If supply is less than four months, sellers have gained asking power. If it’s above six months, buyers have gained negotiating power.

MSI is calculated by dividing the current month’s inventory figure by a rolling 12-month calculation of pending sales.

Here’s a glimpse at our local MSI.

 

At the end of December 2018:

  • Camano Island had 2.6 MSI, which is a seller’s market.
  • Stanwood had 3.7 MSI, which is a seller’s market heading towards a balanced market.

 

Let’s look at the difference 10 years ago, at the end of December 2008:

  • Camano Island had 29.1 MSI, which was a buyer’s market.
  • Stanwood had 10.9 MSI, which was also a buyer’s market.

 

If new homes stop entering the market today, MSI equals how many months would it take to sell all the homes currently available for sale. It would take 2.6 months on Camano Island today but would have taken 29.1 months 10 years ago. Times have changed.

 

The chart below shows the Stanwood/Camano Island combined MSI over the past 10 years.

 

Steve Harney, Founder of Keeping Current Matters, said this in a recent blog post:

“Returning to a normal market is a good thing. However, after the zaniness of the last eleven years, it might feel strange. If you are going 85 miles per hour on a road with a 60 MPH speed limit and you see a police car ahead, you’re going to slow down quickly. But, after going 85 MPH, 60 MPH will feel like you’re crawling. It is the normal speed limit, yet, it will feel strange.

That’s what is about to happen in real estate. The housing market is not falling apart. We are just returning to a more normal market which, in the long run, will be much healthier for you whether you are a buyer or a seller.”

 

To read in-depth statistics from last month, click on the links below.

View Full Stats – Camano Island  View Full Stats – Stanwood

 

 

 

 

 


Posted on January 29, 2019 at 11:29 am
Windermere Stanwood Camano | Posted in Buying, Market Insights, Selling |

Local Market Stats For October

Marla Heagle, Windermere Stanwood Camano Island Owner

Every month, Windermere Stanwood-Camano publishes a snapshot of the local real estate market. Our Brokers use this data to help determine listing prices, realistic offers, and tailored advice for their clients. We also like to make this information public, to help you with your real estate journey. Here are our key takeaways from October 2018.


Camano Island

Looking at the current market on Camano Island, there are some positive points for both buyers and sellers. As of November 12, there are more active residential listings this year at 102 compared to 94 last year. Buyers will be happy to see the increase in inventory, even if it’s only up by 9%.

The average days on market for sold listings dropped from 57 last year to 42, which is a plus for sellers considering homes tend to stay on the market a little longer this time of the year. Sellers will be happy to know that the average list price is up by 12%, too.

 

Windermere held 38% of Camano Island listings in October. Our large market share of listings is a testament to our knowledgeable agents who are familiar with the ins and outs of Camano Island!

 

The largest quantity of homes sold so far this year on Camano Island fell into the $350k – $399k price range. This same range includes the largest quantity of active listings as well. If you’re a Camano Island homeowner and you’ve been thinking about selling, it’s still a good time to list.

 

 

View Full Stats – Camano Island

 


Stanwood

In October, the average days on the market for sold listings was just 44 days – two days less than October 2017. So, even though we’re hearing about market slowdowns in areas like Seattle, Stanwood is still a hot sellers’ market.

 

 

Inventory dropped slightly at 5%, from 75 active residential listings last year to 71 this year. This is a sign to potential sellers that now’s a good time to call your agent and start the process of getting your home on the market. 

The largest quantity of active listings falls into the $400k – $449k price range. However, the largest quantity of homes sold over the last 12 months was in the $350k – $399k range. The biggest takeaway for Stanwood homeowners is that it’s still a good time to sell regardless of the ensuing winter. A slight decrease in inventory means less competition.

 

 

View Full Stats – Stanwood

 


 


Posted on November 16, 2018 at 9:05 am
Windermere Stanwood Camano | Posted in Market Insights, Uncategorized |